Principal Financial Group Inc. Reduces Holdings in Madison Square Garden Sports Corp. (NYSE:MSGS)

Principal Financial Group Inc. lessened its position in shares of Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 4.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 78,809 shares of the company's stock after selling 3,329 shares during the period. Principal Financial Group Inc. owned approximately 0.33% of Madison Square Garden Sports worth $16,413,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Creative Planning lifted its holdings in shares of Madison Square Garden Sports by 2.5% during the 3rd quarter. Creative Planning now owns 2,542 shares of the company's stock worth $529,000 after acquiring an additional 61 shares during the last quarter. Arizona State Retirement System lifted its stake in Madison Square Garden Sports by 1.9% during the second quarter. Arizona State Retirement System now owns 4,349 shares of the company's stock worth $818,000 after purchasing an additional 83 shares during the last quarter. Pullen Investment Management LLC boosted its holdings in shares of Madison Square Garden Sports by 2.3% in the 2nd quarter. Pullen Investment Management LLC now owns 4,419 shares of the company's stock worth $831,000 after purchasing an additional 98 shares in the last quarter. Swiss National Bank raised its stake in shares of Madison Square Garden Sports by 0.3% during the first quarter. Swiss National Bank now owns 30,633 shares of the company's stock worth $5,652,000 after acquiring an additional 100 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Madison Square Garden Sports by 80.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 224 shares of the company's stock worth $42,000 after purchasing an additional 100 shares during the period. 68.94% of the stock is owned by institutional investors.

Insider Buying and Selling at Madison Square Garden Sports

In related news, CEO James Lawrence Dolan sold 629 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $209.30, for a total transaction of $131,649.70. Following the completion of the transaction, the chief executive officer now directly owns 10,192 shares of the company's stock, valued at $2,133,185.60. This represents a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 22.10% of the company's stock.

Analysts Set New Price Targets

Separately, Macquarie lifted their price objective on Madison Square Garden Sports from $235.00 to $240.00 and gave the company an "outperform" rating in a research note on Tuesday, November 5th.

Madison Square Garden Sports Trading Down 1.7 %

Shares of MSGS stock traded down $3.70 during trading hours on Friday, reaching $218.86. 84,122 shares of the company's stock were exchanged, compared to its average volume of 115,432. The stock has a market cap of $5.24 billion, a PE ratio of 75.21 and a beta of 0.92. The stock's fifty day moving average price is $215.00 and its two-hundred day moving average price is $200.83. Madison Square Garden Sports Corp. has a 1 year low of $166.26 and a 1 year high of $230.69.

Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last issued its quarterly earnings data on Friday, November 1st. The company reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.86) by $0.55. The company had revenue of $53.31 million for the quarter, compared to analyst estimates of $43.71 million. Madison Square Garden Sports had a negative return on equity of 23.81% and a net margin of 6.75%. Madison Square Garden Sports's quarterly revenue was up 23.8% compared to the same quarter last year. During the same period last year, the company earned ($0.79) earnings per share. On average, equities analysts expect that Madison Square Garden Sports Corp. will post 0.81 EPS for the current fiscal year.

About Madison Square Garden Sports

Madison Square Garden Sports Corp. operates as a professional sports company in the United States. The company owns and operates a portfolio of assets that consists of the New York Knickerbockers of the National Basketball Association (NBA) and the New York Rangers of the National Hockey League. Its other professional franchises include development league teams, the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League.